The Australia Day public holiday is observed on Friday. With a shortened week, no ‘top shelf’ Australian economic indicators are released. However, the CommBank’s Business Sales index measuring economy-wide spending is released along with consumer confidence, skilled internet job vacancies and labour productivity data.
In the US, most interest will be in economic growth and housing data. Markit issues the keenly observed ‘flash’ manufacturing and services activity gauges for January.
The focus then shifts to China later in the week. A decline in industrial profits is expected in December with business inflation decelerating in recent months.

Originally published by Ryan Felsman, Senior Economist, CommSec